Laundry Storefront With
For Sale
$400,000
3369 MACON Rd, Memphis, TN 38122
Retail building sale includes an operating laundry business, delivery vehicles, inventory, and a secured outdoor area.
Property Size3,240 SF
Price / SF$123.46
Days on Market550
Property Features for 3369 MACON Rd
General Information
Standard status
Active
Size
3,240 SF
Property subtype
General Commercial
Additional Details
Business Included
Yes
Amenities
3
Com
Asphalt, Secured.
123.75/120X108.04+/85.9
In City.
Building Details
Year Built
1965
Buildings
1
Listing Agency:
Real Estate Mart of TN, Inc.
(901) 872-8888
Listed By:
Donald Edgar · License #350281
Source:
Xome
Added: Feb 26, 2025
Changed: Aug 30
Last Checked: Aug 30 at 1:59PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Real Estate Mart of TN, Inc.
Investment Insights
Based on property information with market context.
This 3,240-square-foot retail building, constructed in 1965, is offered with an operating rental laundry business and its associated equipment, inventory, customer base, and two delivery vans. The property includes a fenced, secured lot and business equipment configured for washing, drying, ironing, folding, and related workflow.
Laundry equipment includes three 70-pound washers, one 60-pound washer, one 30-pound washer, five top-loading washers, two 50-pound dryers, eight 30-pound dryers, two ironers, three folding or work tables, a desk, and two 100-gallon water heaters installed in tandem. The business has operated from the same location for more than 40 years, and the current owner is retiring.
Laundry equipment includes three 70-pound washers, one 60-pound washer, one 30-pound washer, five top-loading washers, two 50-pound dryers, eight 30-pound dryers, two ironers, three folding or work tables, a desk, and two 100-gallon water heaters installed in tandem. The business has operated from the same location for more than 40 years, and the current owner is retiring.
Key Highlights
- 3,240 SF retail building constructed in 1965
- Sale includes the operating rental laundry business, inventory, customer base, equipment, and 2 delivery vans
- Fenced and secured lot
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$32,319
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.08%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$646,380
$646.4K
Cap Rate 7%
$461,700
$461.7K
Cap Rate 9%
$359,100
$359.1K
Market Conditions
NOI Build-Up for 3,240 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$48.6K $15.00/SF
− Vacancy
−$2.4K −$0.75/SF
EGI
$46.2K $14.25/SF
− OpEx
−$13.9K −$4.27/SF
NOI
$32.3K $9.98/SF
Area
Memphis, TN
Vacancy
5.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$646,380
Cap Rate 7%
$461,700
Cap Rate 9%
$359,100
Alternative Uses
Best Use
Retail
$461.7K
$404.0K – $538.7K
NOI $32,319 @ 7.0% cap · market cap 8.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$957.6K
$837.9K – $1.12M
NOI $67,029 @ 7.0% cap · market cap 16.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
267
Businesses Nearby
34k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 70%
Shops & Services 15%
Apparel 15%
McDonald's
Dining
14,590 visits/mo
0.4 miles
American Deli
Dining
6,599 visits/mo
0.4 miles
Citi Trends
Apparel
4,997 visits/mo
0.5 miles
Exxon
Shops & Services
3,242 visits/mo
0.1 miles
Checkers
Dining
2,752 visits/mo
0.4 miles
Demographics for 38122, TN
26,432
Population
10,201
Households
2.6
Avg Household Size
33
Median Age
22%
College-Educated
74%
High-School Grad
6.8 sq mi
ZIP Area
3,887
Density / Sq Mi
$45,456
Median Household Income
$32,760
Median Earnings
$1,127
Median Rent
$108,200
Median Home Value
Market
Vacancy Rate% for Retail in Memphis, TN
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Retail building sale includes an operating laundry business, delivery vehicles, inventory, and a secured outdoor area.
Where is this storefront property located?
The property is located at 3369 MACON Rd Memphis, TN.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: 3,240 SF retail building constructed in 1965; Sale includes the operating rental laundry business, inventory, customer base, equipment, and 2 delivery vans; Fenced and secured lot
